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NetSol Reports Insider Buys as Share Prices Bounce Back
Posted by: Monica Wolfe (IP Logged)
Date: April 3, 2013 05:14PM
As NetSol Technologies (NTWK) share prices were recovering from an extended 52- week low, the company has reported three insider transactions. The Chairman and CEO as well as one of the directors added shares of NetSol Technologies.
Chairman and CEO Najeeb Ghauri added a total of 9,000 shares of his company’s stake for an average cost of $12.21 per share. Ghauri spent a total of $113,440 in March. The CEO now holds on to 301,955 shares of NetSol stock.
Director Mark Caton made a significantly smaller buy of 300 shares. These shares were traded at $12.46 for a total transaction amount of $3,738. Caton now holds on to 23,800 shares of NetSol.
NetSol shares have been in a lull since July 2011, but at the start of 2013 the share prices jumped back up to over $10 a share. This jump came from the company’s expansion into Australia as well as a result of brand recognition in China.
NetSol Technologies was founded in 1995 by three brothers: Salim, Najeeb, and Naeem Ghauri. The company is a software company based out of Calabasas, Calif. The company designs, develops, markets, and exports proprietary software products to customers in the automobile finance and leasing, banking, healthcare, and financial services industries worldwide. The company has major operations in the US, Asia Pacific, Australia and Europe.
According to the GuruFocus analysis of NetSol Technologies, the company’s revenue has been in decline for the last five years. The company has also reported an operating loss over the past three years. On the up side the company maintains a high Piotroski F-Score which indicates a healthy situation.
“Our financial performance demonstrates that the strategic initiatives we put in place to bring NetSol to its next stage of growth are well underway, evidenced by two consecutive record setting quarters and a record 2012 fiscal year,” said Najeeb Ghauri, CEO of NetSol. “With favorable trends and brand recognition in Asia, especially in China, combined with marketing efforts for new products in the US and across the world, we are well positioned for continued growth.”
Jim Simons is the only guru that holds stake in NetSol Technologies. Simons currently holds 17,280 shares of the software company.
With its shares down 2.3%, NetSol Technologies trades at $13.15.
To see a complete list of Net Sol Technologies’ insider trades, click here.
Stocks Discussed: NTWK,
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